The term “Powersports” refers primarily to boats, ATVs (or all-terrain vehicles such as four-wheelers and sandrails), jet skis, and some motorcycles. If you’ve just purchased a fun new play toy, you’ll want to be certain that it is properly insured before hitting the dunes, open water, or trail. At Panorama Insurance, we help new ATV and Powersports owners in California all the time with finding the right coverage. Here are some of the most frequently asked questions we come across.
An average ATV insurance policy will help you if your vehicle or vessel is stolen, lost, damaged, or involved in an accident (including related injuries, property damage, or legal expenses). Much like a car insurance policy, there is liability coverage, collision coverage, uninsured motorist coverage (optional), and comprehensive coverage (optional).
No, most homeowners policies do not cover things like an ATV, jet ski, or boat. While you should definitely confirm with your homeowner’s insurance company, it is unlikely your Powersports vehicles and vessels are covered.
Each state has different requirements for insuring different types of vessels and vehicles. There are some states that do not require insurance for Powersports. Even if it’s not required, ask yourself how you’ll handle a worst-case scenario. Insurance is always the wise move whenever possible. You’ll need to research on your own, which is also something Panorama agents can help you with. If you financed your ATV, jet ski, quad, or sandrail, the bank may require that you carry liability insurance at the very least. If you enjoy using your Powersports vehicle or vessel in other states or countries, you should check the local rules and regulations as well.
This depends on each unique driver (their experience level, their level of responsibility, how often they operate the vehicle in question, and the specifics of the vehicle itself). More expensive vehicles often require more expensive policies. Again, our agents can advise you as to what level of coverage is appropriate for your situation.
Remember, any time risk is involved, insurance is a good idea. Powersports insurance works basically the same as car, home, health, or life insurance. You’ll get money from your insurance company to cover expenses and damages if a loss occurs.
There will be a deductible (or “co-pay”) as well as a limit to how much money the insurance company will pay out for any particular loss. Some of the losses insurance covers include theft, property damage, lawsuits, medical bills, lawyer’s fees due to an accident, catastrophic losses, etc. After an incident covered by your policy occurs, an insurance adjuster will investigate and determine the value of the total loss.
You can expect to pay a similar rate to your car insurance based on the value of the ATV. Factor in the driver’s experience, age, and driving history. The top speed of the vehicle or vessel to be insured is also a factor (the faster it goes, the more you can expect to pay to insure it).
A Panorama insurance agent can answer these and any more specific questions you may have. Details vary from state to state, so don’t hesitate to reach out and confirm information. Contact us today to start safely enjoying your new toy today!.